Standard Chartered awaits approval for Ether ETFs: “Price could be $8,000”

Standard Chartered analysts, who have previously made many positive analysis and price forecasts for Bitcoin and Ether, stated that if Ether ETFs are accepted, they expect an investment of between $15 and $45 billion in the first year. Analysts also estimated the price at $8,000.

Standard Chartered awaits approval for Ether ETFs: “Price could be $8,000”

A new report was shared from the digital assets unit of Standard Chartered, a British bank that provides financial services worldwide. In the report shared by Geoff Kendrick, it was stated that Ether spot ETFs are expected to be approved this week.

$8,000 expectation for the end of the year

On May 23, the report on Ether ETFs, where the final decision will be made for VanEck’s application and a collective approval or rejection is expected along with other applications, the following statements were used:

“We expect the SEC to approve Ether ETFs this week. After approval, we think that between 2.29 million and 9.15 million ETH will be purchased by ETFs in the first 12 months. In dollar terms, this translates to approximately $15 billion to $45 billion. When we compare these inflows to the market capitalization, a number close to Bitcoin spot ETFs emerges. Considering that Bitcoin will reach 150 thousand dollars by the end of 2024, we can say that an 8 thousand dollar target for Ether is ahead of us.”

Analyst Kendrick also stated that they are behind their price targets of 250 thousand dollars in Bitcoin and 14 thousand dollars in Ether for the end of 2025 and wrote this in his report.

Yesterday evening, the SEC had asked companies applying for an Ether ETF to quickly make changes to their files. Hours after this request, at noon today, the investment giant Fidelity removed staking from the features in the fund and officially notified the SEC.

Leave a Comment